The Fed's quantitative tightening may end soon, and U.S. authorities crack down on Cambodian criminal groups.

You're watching Coin Desk Daily. I'm your host, Jen Sanasi.

Fed Chair Jerome Powell said on Tuesday that the central bank could soon reach a point where it will have to end the balance sheet reduction program.

The Fed's quantitative tightening, which began in 2022, has reduced the balance sheet from $9 trillion to $6.6 trillion. The comments come as markets anticipate 225 basis point Fed rate cuts by year

end. Following a similar size reduction in September, Bitcoin remains unfazed to the news,

trading near $112,000, largely flat on a 24-hour

basis. Utility or privacy, the transparency of traditional blockchains forces a difficult choice,

break free from this limitation with midnight. Just like the internet-made information global,

stable coins are making money global, and bridge, a a stripe company is powering that shift.

The CME group has launched options tied to XRP and Solana futures expanding its crypto product

suite. Initial trades were conducted by major market participants including Wintermute, Galaxy,

Cumberland, DRW and Superstate. CME's users can now trade options on Seoul, MicroSole XRP and Micro-XRP futures across daily, monthly, and quarterly expiries.

The new offering caters to the growing institutional demand for diverse crypto investments and hedging strategies.

And U.S. authorities struck the Cambodia-based firm, Prince Group as an operator of forced labor global scam operations.

According to the Department of Justice, the founder and chairman of Prince Group, Chen Z,

was indicted in New York for allegedly conspiring to launder money and commit wire fraud.

In that case, the DOJ took what it said was its largest ever crypto seizure of 127,271 Bitcoin

worth about $14 billion at current value.

On the same day, the Treasury finalized a rule to entirely sever Cambodian conglomerate

Heone Group from the U.S. financial system.

That's it for CoinDesk Daily.

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